Medicare-eligible employees? How to advise them during open enrollment

Many workers who are reaching the traditional retirement age are planning to work longer to keep their employer-sponsored healthcare coverage. According to a recent Allsup survey, 54% of Medicare-eligible workers report that maintaining their health care coverage is a primary or contributing factor to continue working. However, Medicare can be a viable and attractive alternative for seniors, even if they plan to delay their retirement. For some, switching to Medicare can even reduce their healthcare costs while preserving necessary benefits, making it a win-win for employees and their employers.

As older workers evaluate their options, it is a good idea for large employers to be equipped with the right information to guide their employees who are considering making healthcare changes – especially during the fast-approaching Medicare Annual Enrollment Period (AEP), which is from Oct. 15 – Dec. 7.

The survey from Allsup also found that one-third of those ages 62 to 64 who plan to keep working past 65 did not understand that they can sign up for Medicare coverage even while working, and over one-third reported interest in reading printed Medicare materials and speaking to a benefits manager at their current employer.